Part 12 — .1
124.51 Acknowledgment of receipt of payment
business premises, the payday lender shall immediately give the
borrower an acknowledgment of the receipt of that payment, in the
form submitted to the Director under the regulations.
(2) The payday lender shall ensure that the acknowledgment
referred to in subsection (1) or (4) specifies
(a) the name of the borrower,
(b) the date of payment,
(c) the agreement number of th e payday loan in respect of
which the payment was made,
(d) the amount paid, and
(e) the amount still owing in res pect of the payday loan, if any.
(3) For the purposes of subsection (1), with the express consent of
the borrower, a payday lender may provide a copy of an
acknowledgment of the receipt of payment by e-mail or by other
electronic means.
(4) On receiving payment from a borrower by means other than in
person at its business premises, the payday lender shall provide an
acknowledgment of the receipt of that payment to the borrower
electronically sent to the e-mail address provided by the borrower,
in the form submitted to the Director under the regulations.
2016 cE-9.5 s8